New features for 2024
NestEgg has had a very busy 2024 so far. Not only has the launch of our award-winning Broker Platform been a success, but we’ve also been announcing lots of new features for our partner lenders. Here is a roundup of the latest releases. Some have been made available in the last couple of months and a…
Read MoreThe benefits of joining a payroll deduction scheme with a credit union
Managing finances should not be a headache. By joining a payroll deduction scheme with a credit union, a portion of money can be deducted from your salary (after tax) and used for savings or loan repayment. Credit unions are ethical and responsible institutions that promote financial well being and inclusion for their members. Many have…
Read MoreNestEgg wins the Fast Solution award at the FCA TechSprint
NestEgg presented its Broker Platform at the FCA TechSprint last week, winning the Fast Solution’ award. The judging panel recognised the rapidity with which our platform can scale to connect declined borrowers to community finance. This means: A better decline journey for applicants Millions of pounds interest saved by borrowers living in the 20% poorest…
Read MoreWhat is a debt relief order?
A Debt Relief Order (DRO) is a formal debt remedy. A DRO is an alternative to bankruptcy that is designed for people who cannot afford to pay off their debts. DROs can offer a fresh start to those who are struggling with unmanageable debt. How it works DROs are for people with lower levels of…
Read MoreHelping responsible lenders grow their loan books in difficult times
It’s hard to remember a time when lending was this difficult. One pressure is the impact as 1.5m people leave fixed rate mortgages this year. They’ll spend an additional £19bn on mortgage repayments in 2024. Currently with higher credit scores, these ‘near-prime’ borrowers have been a priority for credit unions looking to balance loan books…
Read MoreBetter referral for declined applicants
At the beginning of this year’s Debt Awareness Week, it was reported that 13% of adults had missed three or more credit or bill payments in the last six months. Credit unions are used to seeing this. For example, between 1 January and 18 March 2023, 29% of borrowers assessed by NestEgg’s Decision Engine had…
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